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This issue of the Association's newsletter includes:
Annual Meeting Review and 2007 Meeting Announcement
Members' Corner: Announcing Monthly Luncheon Roundtables!
Online Educational Event- Hedge Fund Financial Reporting
Support of Hedge Funds Care
Upcoming Conferences
About the Hedge Fund Business Operations Association
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ANNUAL MEETING REVIEW AND 2007 MEETING ANNOUNCEMENT
Attended by professionals from hedge funds, funds of funds, institutions and a range of service providers, the Association’s First Annual Meeting was held on December 13th and 14th at the Princeton Club in New York City. The meeting opened with a morning workshop focused on the operational issues of due diligence. Jon Lukomnik of Sinclair Capital led a highly interactive session that provided attendees with the direct insight of institutional and fund of funds investors, family offices and industry consultants. Following the workshop, attendees spent the next day and a half exploring and receiving guidance from industry experts on the primary challenges of supporting a hedge fund in today’s challenging environment.
We extend a tremendous thank you to the Association's Board of Directors for all of their time and input in shaping the agenda as well as to all of the presenters that shared their expertise with us. And while planning for this year’s meeting hasn’t officially commenced, please contact us in the interim with any requests or topic suggestions.
Since December is such a busy month, we are moving the 2007 annual meeting to September. We’ll send more information on exact dates and venue as soon as they are available.
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MEMBERS CORNER - ANNOUNCING THE 1ST LUNCHEON ROUNDTABLE
During the Hedge Fund Business Operations Association's annual meeting, the Association's Board of Directors met to discuss initiatives for the upcoming year. From that meeting came the recommendation for hosting monthly luncheon meetings to provide hedge fund operations professionals a regular forum to meet with their peers and discuss timely topics while exchanging ideas on managing the daily challenges faced in their roles. In response, we are excited to bring you the Association’s first “Luncheon Roundtable”.
The discussions for April's roundtable will focus on two topics: soft dollars and the decision to de-register. Marc D. Abel, Board Member and Chief Financial Officer at Stonebrook Fund Management, will serve as the discussion leader for the meeting which will be held at The Princeton Club in New York City. To facilitate an open discussion format, participation is strictly reserved for operations executives from hedge funds and funds of funds. Attendance will be limited to 12 participants with spots reserved only through paid registration prior to the luncheon.
If you are interested in attending, submit your application at http://www.hfboa.org/luncheon.aspx. You will be contacted within 48 business hours regarding the status of your application and qualified applicants will be invoiced via email for payment of the $75 registration fee. Once the invoice is sent, you will have 48 business hours to submit payment. If payment hasn't been submitted within that time frame, your spot at the luncheon will not be reserved and other applications will be accepted. As the luncheon attendance will be capped at 12 participants, please be sure to remit payment to secure your spot.
This is your opportunity to gain new insight from your peers on in an open format meeting reserved strictly for hedge fund and fund of funds business operations professionals!
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ONLINE EDUCATIONAL EVENTS
In the last newsletter, we announced an ongoing series of webinars focused on hedge fund operational issues. The most recent additions to the series are as follows:
Hedge Fund Financial Reporting
This event will focus on preparing hedge fund financial statements and all of the required reporting disclosures. Produced in conjunction with Financial Research Associates, this two hour webinar brings the information you need to stay compliant as two leading accounting and audit professionals analyze sample statements for various fund structures. You will also explore key areas of the AICPA’s latest Accounting and Auditing Guide on Investment Companies, May 1, 2006 as well as the latest on FASB Interpretation No. 48 and FASB Statement No. 157.
Managing the Annual Compliance Review
Besides fulfilling an SEC requirement, a well-structured annual review is one of the most effective tools for surviving an SEC audit. This 90 minute session will address risk assessment, conflicts of interest, and how careful consideration of each can lead into a well-documented and effective annual review that meets SEC requirements.
The Hedge Fund Executives' Guide to Preparing for an SEC Audit
With 1,346 investment advisors examined during fiscal year 2006, strategies and tips to help you prepare for and survive an SEC audit are always timely. As the first step to surviving an audit is careful preparation, this webinar will focus on strategies to help you develop policies and procedures designed to meet the SEC’s expectations for an examination.
Best Practices for Best Execution: Developing and Applying a Best Execution Policy
Investment firms must be able to demonstrate that they are achieving best execution for client securities transactions. Hear from a panel of industry experts to get the information you need for meeting the SEC’s expectations and how to measure and test your policy.
Best Practices for Hedge Fund Operational Due Diligence
Practical due diligence requires you to maintain efficient business practices while still satisfying the needs of your investors. Streamlining your due diligence practices is essential to both gaining and retaining assets. In this interactive, online format, you will learn from experienced industry professionals on how to manage the due diligence process and help your firm gain (and retain) assets.
Click here for more information about these events and to register.
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Hedge Fund Business Operations Association Supports Hedge Funds Care
Besides educational and networking initiatives, the Association has made a contribution to
Hedge Funds Care in December. As the only business group solely focused on combating child abuse,
Hedge Funds Care commendable efforts have raised over $20 million dollars to date!
Please visit www.hedgefundscare.org to learn more about the group and its upcoming events.
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Upcoming Conferences
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About the Hedge Fund Business Operations Association
Through feedback provided at educational conferences centered on hedge fund operational issues and topics significant to CFOs, COOs and CCOs of hedge funds and funds of funds, Financial Research Associates identified an obvious need for an industry association exclusively for hedge fund operations executives.
In response to this need, Financial Research Associates organized the Hedge Fund Business Operations Association. The Association’s mission is to provide reliable and practical information for hedge fund operations personnel through industry updates, articles, educational summits, email distribution, useful web links, industry directories, and much more. The Association offers its members an excellent forum to:
- exchange ideas
- present recommendations
- generate ideas for advancing the industry,
- share best practices, improve job performance
- provide networking opportunities for our members to interact on a regular basis
In addition, the Hedge Fund Business Operations Association strives to provide practical strategies for developing, implementing and executing a profitable hedge fund.
For hedge fund and funds of funds' operations executives, there are no membership fees for an Executive Membership. For individuals that don’t qualify for an Executive Membership, Associate Memberships are available. To learn more about the Association and register for membership, visit www.hfboa.org.
Hedge Fund Business Operations Association
1840 41st Avenue, Suite 102-132 Capitola, CA 95010
630.799.9144ph
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